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Jackson deposited $5,000 at 3.8% interest, compounded continuously, when he was 18 years old. How much will be in the account when he is 40 years old if he made no other deposit…

Jackson deposited $5,000 at 3.8% interest, compounded continuously, when he was 18 years old. How much will be in the account when he is 40 years old if he made no other deposit…
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Jackson deposited $5,000 at 3.8% interest, compounded continuously, when he was 18 years old. How much will be in the account when he is 40 years old if he made no other deposits or withdrawals?

asked
User Ashok Jeev
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7.8k points

1 Answer

3 votes
5,000 × 3.8%= 19,000×18= 342,000 × 40 = 13,680,000
answered
User Asgu
by
8.5k points
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